6 month lease...would you
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6 month lease...would you (by Dee Ann [WI]) Jan 30, 2023 3:28 PM
       6 month lease...would you (by Hoosier [IN]) Jan 30, 2023 3:42 PM
       6 month lease...would you (by Vee [OH]) Jan 30, 2023 5:09 PM
       6 month lease...would you (by myob [GA]) Jan 30, 2023 5:16 PM
       6 month lease...would you (by Jim in O C [CA]) Jan 30, 2023 5:20 PM
       6 month lease...would you (by RB [TN]) Jan 30, 2023 5:32 PM
       6 month lease...would you (by Dee Ann [WI]) Jan 30, 2023 7:22 PM
       6 month lease...would you (by myob [GA]) Jan 31, 2023 7:22 AM
       6 month lease...would you (by Jim in O C [CA]) Jan 31, 2023 10:44 AM
       6 month lease...would you (by Oregon Woodsmoke [ID]) Jan 31, 2023 11:34 AM
       6 month lease...would you (by Busy [WI]) Jan 31, 2023 2:32 PM
       6 month lease...would you (by MAT [PA]) Jan 31, 2023 6:43 PM
       6 month lease...would you (by Ray-N-Pa [PA]) Feb 2, 2023 11:24 AM
       6 month lease...would you (by Dee Ann [WI]) Feb 2, 2023 10:56 PM


6 month lease...would you (by Dee Ann [WI]) Posted on: Jan 30, 2023 3:28 PM
Message:

The two roommates In the upper duplex with all the drama last fall finally moved out yesterday.

Tomorrow, the renewal is due back to me for the lower unit in that building. The couple living there decided to separate and let me know the day I sent out their renewal paperwork; their lease is up April 30th. We met shortly after receiving the news as she asked if we had anything else opening up as she wanted to coninue renting from us... none of my tenants indicated they had any plans to move, so she said she would stay until next year, thinking something would become available. Today, the question came up, can we do a 6 month lease, which would put us close to winter which hasn't worked this year or at most all of my properties in the past. Both of them have been great tenants for us which is why I would put her anywher if I had an opening. They are not running out on their lease, rather she will pay it until i expires and he has been returning to do the snow removal, which has been the best

we've had ever in all the years (45+) I've been a landlady.

We have one remaining tenant in the upper, who I understand would move at the end of her lease, end of May. The upper lady and lower lady were going to consider being roommates, but I don't see that as working, rather complicating things.

Where we're at is painting the upper while the remaining tenant is at work...she's totally fine with that and it gives us the afternoon into the evening if we want to work that long each day...until she moves. We/ve purchased a new fixture, considering new appliances and perhaps a couple upgrades.

Does the board of directors care to brainstorm? The pickings are unqualified. Marcia is coming over to weigh in. Anyone else care to weigh in here? Not ready to sell yet RB; I think you might suggest that, lol.

--75.11.xx.xx




6 month lease...would you (by Hoosier [IN]) Posted on: Jan 30, 2023 3:42 PM
Message:

Yes, I see nothing wrong with a 6 month lease if they've been good tenants. The one concern would be whether she can pay the rent with the other person moving out...does she have enough income without the other person?

A slightly better option might be to either lengthen it slightly or shorten it to avoid the winter. For example, ask her for an 8 month lease to get past the hard part of winter. --99.92.xxx.xxx




6 month lease...would you (by Vee [OH]) Posted on: Jan 30, 2023 5:09 PM
Message:

I would calculate the extra months and divide by 6 - the cost for a shorter lease will not be the same as today cost. When I started in student housing 15 years ago I would lease for 10 months at 120 percent, then some more math skills took over and we now go by the quarter at 160 percent. --76.190.xxx.xxx




6 month lease...would you (by myob [GA]) Posted on: Jan 30, 2023 5:16 PM
Message:

we don't do drama! we don't do the best in 45 years either.

Why are you making LL'ing so hard? When you make accommodations- outside your norm-- well you just got rid of 2 in the upper-- get back to what you do and that is follow your script.

No 6 months, always full rent yada yada yada!!!!!!! --108.239.xx.xx




6 month lease...would you (by Jim in O C [CA]) Posted on: Jan 30, 2023 5:20 PM
Message:

I try not to have a lease end in Nov or December because most people do not move over the holidays. I did make a BIG mistake for not taking a short term tenant that needed 4 months while their house was being repaired for fire damage over the holidays and holding out for a year tenant --169.150.xxx.xx




6 month lease...would you (by RB [TN]) Posted on: Jan 30, 2023 5:32 PM
Message:

Nice hit, Landlady Dee Ann.

With 45 (+) years experience, DOWHATYAGOTTADO. --24.183.xxx.xxx




6 month lease...would you (by Dee Ann [WI]) Posted on: Jan 30, 2023 7:22 PM
Message:

MYOB: My LL job is easier by keeping the good tenants vs. wading through or taking the deeply disqualified prospects, i.e. many unpaid judgements, job hoppers, recent evictions year after year, etc. I'm using the great ideas I've gotten here to weed out the disqualified. But it's up to me to keep the good tenants. We have a nice place and my rents are reasonable. As GKARL mentioned in "ROOMING HOUSE DEMAND" which got me thinking.

My reasoning for considering options now and in the past has always been to keep ideal tenants, ones that make my job, not a job...otherwise why do it? I could have stayed an accountant pushing pencils in a cubicle.

This young lady can afford it, she was on her own at the same level before she and her boyfriend applied. I've come up with creative ideas in the past that have allowed my buildings to stay full. As a mom and pop LL, I would rather keep the rents reasonable and keep good tenants than lose more to Medicare in a higher tax bracket. I'm just a mom and pop LL hoping to get some creative ideas I've not thought of.

VEE: I like your calculation for shorter term leases. May use in the future_I've often wondered how I might calculate that. Now I have it!

A dear friend who passed a few years ago, asked on several of our walks together,"Why would my LL friend only rent out one unit in each of his 5 duplexes?" "Jim I have the answer now that I couldn't give you when you asked." Taxes, tax brackets, Medicare and IRMAA premiums, social security, double taxation that is not called what it truly is."

But I digress...any other ideas?

--75.11.xx.xx




6 month lease...would you (by myob [GA]) Posted on: Jan 31, 2023 7:22 AM
Message:

Dee and as diligent as you are-- two drama people just left.

My point was the system you have in place isn't perfect but it works for you-- keep doing what you've been doing and don't deviate from your success.

Was not meant to tick you off but to keep you doing what works. --108.239.xx.xx




6 month lease...would you (by Jim in O C [CA]) Posted on: Jan 31, 2023 10:44 AM
Message:

I try not to have a lease end in Nov or December because most people do not move over the holidays. I did make a BIG mistake for not taking a short term tenant that needed 4 months while their house was being repaired for fire damage over the holidays and holding out for a year tenant --169.150.xxx.xx




6 month lease...would you (by Oregon Woodsmoke [ID]) Posted on: Jan 31, 2023 11:34 AM
Message:

I have done a shorter lease in the past to get me out of winter, but if they want a short lease it will only go until the end of May so I have all summer to fill the vacancy and June is the best time of year to be looking for tenants. --76.178.xxx.xxx




6 month lease...would you (by Busy [WI]) Posted on: Jan 31, 2023 2:32 PM
Message:

The best thing you have going for you, DeeAnn, is, you have what the best tenants want: attractive, well-kept places, very well-kept, prompt attention to maintenance, and a thoughtful landlord. So, going with a shorter term, even month to month, will likely be no problem, in my opinion. Course, what do I know?; I've only ever done MTM.

Your beautiful houses, with all the charming features, won't be easy for tenant to find again. That tenant asked for some flexibility says to me, she plans ahead, looks ahead. Thus, I think she'll look around, and when she doesn't find better, will stay, whereas, if there is a lengthy lease to be signed, she may opt out to gain flexibility. ( this might make more sense in my head than on paper.) --70.92.xxx.xxx




6 month lease...would you (by MAT [PA]) Posted on: Jan 31, 2023 6:43 PM
Message:

Id do it, since shes been a good tenant. Pretty good chance shell stay for longer than six months. Nobody likes to move. --174.240.xxx.xx




6 month lease...would you (by Ray-N-Pa [PA]) Posted on: Feb 2, 2023 11:24 AM
Message:

Every tenant has a back story. The question is how much do these folks try to make their issues your issues. From what you have shared, I would keep a long term resident like that for as long as they don't become a thorn in your side.

What is a thorn in your side? Well a winter vacancy might be considered as one. So offer them either a 3 month or an 8 month lease extension or a full year renewal.

More power to you for making 45 plus years. During that time you have seen highs and lows. You rock! --24.101.xxx.xxx




6 month lease...would you (by Dee Ann [WI]) Posted on: Feb 2, 2023 10:56 PM
Message:

Oh what great inspiration from all of you!

MYOB: thanks for clarifying; felt much better after reading your second response, which prompted me to non renewal of her lease with leeway to leave earlier than the end of her lease. That will be the last of the property drama. My modified happy clause.

BUSY: Thanks for the vote of confidence in my buildings. I would love to live at that one, but hubby won't. You have opened up my eyes regarding the 6 mo. lease for the lower unit. You are right, I think she may not go for the one year...found out she was the one who did the snow removal...likely why she wouldn't want to go through another winter there. I'd hope to put her in our building that includes snow removal if someone moves, which is what she is looking for.

RAY: Thanks, can't believe it's been so long! --75.11.xx.xx





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